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Fraudsters stole Ethereum worth over $7 mln at ICO CoinDash

18 July 2017 21:00, UTC

According to CoinDesk.com, $7.5 mln of Ethereum went to the wallet of hackers who changed the real wallet address on the website of Israel blockchain startup.

ICO organizers promise to compensate the funds to investors. However, only those investors can hope to return their funds who sent coins to a fraudulent address before the hacking has been revealed and the project has been closed.

At present CoinDash ICO website does not work and organizers asked investors to submit all the necessary information in order to be able to return their funds. Also CoinDash asks users not to send Ethereum to any address related to the ICO because transactions made after the website shut-down would not be refunded.

This is not the first time when a large amount is stolen during the ICO; last year $50 mln was stolen in the same manner from a project called the DAO. Thus, due to increased popularity of ICO, it is necessary to pay more attention to possible security issues.